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EDC: County has adopted CPACE ordinance; staff awaiting executed locality agreement
Summary
Staff reported the county has adopted a Commercial PACE ordinance and submitted a locality agreement to the CPACE provider; three local projects expressed interest and the committee discussed marketing and applicant guidance.
Mister Weakley told the Economic Development Committee the board of supervisors has adopted an ordinance enabling a commercial PACE (CPACE) program and the county has sent the locality agreement to the CPACE administrator and is awaiting the executed copy.
Weakley described CPACE as a state-linked financing tool for energy efficiency and rehabilitation projects that provides stop-gap or last-mile funding. “It’s a tool to use at no cost to the county,” he said, and noted it is not intended to cover full project costs but can fill financing gaps that make projects bankable.
He identified three prospective applicants who had signaled interest: Mister Shapiro (Cricketersville School, Incorporated), Mister Seek (Meander Inn and Tavern) and a glamping proposal by Mister Helmi (MyAvida). Committee members discussed how best to promote the program — adding a link and information to the county economic-development webpage, using Constant Contact distributions, and coordinating with regional partners such as Go Virginia and Central Virginia Economic Partnership.
Next steps: staff will follow up when CPACE returns an executed locality agreement, then publish guidance for applicants and consider outreach through existing county communications channels.
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